The Australian dollar does not stop to define a clear medium-term trend. This week it is negotiating fractal level of 1.0387. If it closes above this level, it will give the currency the bullish strength. On the other hand, a daily close below the low of last week and below 1.0360, it is likely that the pair continues to be under pressure to support level 1.0310, (Fractal Daily). At this level there are the 200 day moving average periods and it is likely that there will be a strong rebound of the pair. Therefore, we recommend observe the key level of 1.0387 to make the decision to buy or sell.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
